Grant of Share Options

Ondine Biomedical Inc.

26 January 2024

 

26 January 2024

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine" or the "Company")

Grant of Share Options

Canadian life sciences company, Ondine Biomedical Inc., (AIM: OBI) announces that on 25 January 2024 ("Grant Date") it awarded a total of 11,950,000 stock options ("Options") to subscribe for new common shares in the Company. This strategic move aligns with the Company's Option Plan, emphasizing the commitment to attracting, retaining, and inspiring key talent within its workforce, including employees, directors, advisory board members, and key consultants.

In the period since 30 June 2023, 4,355,000 options have naturally expired or been forfeited. Following the above grant of Options, Ondine Biomedical now has a total of 15,640,000 outstanding Options in issue, equivalent to 6.9% of the Company's current issued share capital.

The distribution of Options to Persons Discharging Managerial Responsibilities ("PDMR") is as follows:

PDMR	Position	Options granted	Exercise price	Total options now held
Carolyn Cross	Executive Director	2,000,000	9p	2,075,000
Nicolas Loebel	Executive Director	3,500,000	9p	3,575,000
Joseph P. Errico	Chief Financial Officer	3,000,000	9p	3,000,000
Jean Charest	Chairman	40,000	9p	140,000
Craig Tooman	Non-Executive Director	25,000	9p	175,000
Michael Farrar	Non-Executive Director	25,000	9p	175,000
Jean Duvall	Non-Executive Director	25,000	9p	75,000
Simon Sinclair	Chief Medical Officer	150,000	9p	200,000
Junaid Bajwa	Non-Executive Director	25,000	9p	75,000

The Options have an exercise price of 9p, being the share price at which new common shares were issued in connection with the Company's fundraising announced on 30 November 2023. The Options vest evenly over a period of 3 years from the Grant Date, with a third vesting on each of the three successive anniversaries of the Grant Date, and can be exercised for a period of five years from the Grant Date.

The FCA notifications in respect of the above Option grants, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below.

Enquiries:

Ondine Biomedical Inc.
Angelika Vance, Corporate Communications	+001 [phone]
Singer Capital Markets (Nominated Adviser and Joint Broker)
Aubrey Powell, Asha Chotai, Sam Butcher	[phone]
RBC Capital Markets (Joint Broker)
Rupert Walford, Kathryn Deegan	[phone]
Vane Percy & Roberts (Media Contact)
Simon Vane Percy, Amanda Bernard	[phone]

About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian life science company innovating in the field of photodisinfection therapies. Ondine has a pipeline of investigational products, based on its proprietary photodisinfection platform, in various stages of development. Ondine's nasal photodisinfection technology is approved in several jurisdictions under the brand name Steriwave®. It has been awarded the CE mark and, in the US, has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns, and other indications.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.     Carolyn Cross 2.     Nicolas Loebel 3.     Joseph P. Errico 4.     Jean Charest 5.     Craig Tooman 6.     Mike Farrar 7.     Jean Duvall 8.     Simon Sinclair 9.     Junaid Bajwa
2.	Reason for the Notification
a)	Position/status	1.     CEO (PDMR) 2.     President (PDMR) 3.     CFO (PDMR) 4.     Non-executive Chair (PDMR) 5.     Non-executive Director (PDMR) 6.     Non-executive Director (PDMR) 7.     Non-executive Director (PDMR) 8.     Chief Medical Officer (PDMR) 9.     Non-executive Director (PDMR)
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ondine Biomedical Inc.
b)	LEI	9845005B69E07CGF4A56
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Options to subscribe for Common Shares
	Identification code	ISIN: CA68234M2058
b)	Nature of the transaction	Grant of options to subscribe for common shares of no par value
c)	Price(s) and volume(s)	PDMR Price(s) Volume(s) Caroyn Cross Exercise price of 9p per share  2,000,000 Nicolas Loebel Exercise price of 9p per share  3,500,000 JP Errico Exercise price of 9p per share  3,000,000 Jean Charest Exercise price of 9p per share       40,000 Craig Tooman Exercise price of 9p per share       25,000 Michael Farrar Exercise price of 9p per share       25,000 Jean Duvall Exercise price of 9p per share       25,000 Simon Sinclair Exercise price of 9p per share     150,000 Junaid Bajwa Exercise price of 9p per share       25,000
d)	Aggregated information: ·Aggregated volume ·Price	N/A
e)	Date of the transaction	25 January 2024
f)	Place of the transaction	Outside a trading venue

 

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